The cryptocurrency has recently surged to remarkable new heights, and now its RSI (Relative Strength Index) is displaying a flattening effect at the top. This pattern is comparable to a double-top pattern in conventional RSI analysis, in which the RSI reaches comparable high levels, twice forming a ceiling of sorts.

Double tops frequently indicate a possible reversal on conventional price charts, but in the case of RSI they might actually reinforce the notion of trend continuation rather than reversal. The fact that Bitcoin's RSI is currently in the 70-80 range indicates that the asset is slightly overbought but still holding firm. Historically prolonged bullish periods rather than abrupt declines have frequently accompanied Bitcoin's RSI rising above 70. Strong buying momentum is indicated by the fact that it is holding at this level without experiencing a significant correction.